The National Identity Management Commission (NIMC) has publicly disclaimed responsibility for the alleged sale of National Identification Numbers (NINs) and Bank Verification Numbers (BVNs) to fintech companies, a fraudulent scheme recently exposed by the Economic and Financial Crimes Commission (EFCC).
In a major fraud crackdown, EFCC revealed that up to 12,000 young Nigerians, operating in groups known as “Account Suppliers” or “KYC Groups,” are reportedly buying personal data (NIN, BVN, passport photo) from individuals for ₦1,500–2,000 and reselling it to fintech firms for around ₦5,000 all to enroll fraudulent accounts.
The data is then used to facilitate online scams and cryptocurrency laundering. Authorities have arrested several suspects and launched money recovery operations.
NIMC responded firmly, reaffirming its earlier warnings that NIN holders must never share their NINs or personal biometric data for monetary compensation.
The Commission highlighted that the act violates the NIMC Act No. 23 of 2007, the Data Protection Act, and the Cybercrimes (Prohibition, Prevention, etc.) Act.
It noted that only authorised entities can collect or verify NINs, and anyone found facilitating or profiting from its sale will face legal sanction.
NIMC also emphasized that it will not be held liable for any fraud stemming from personally shared NIN or BVN.
The public was urged to treat such sensitive details like ATM PINs, confidential and never to be transferred, even to fintech platforms or road-side operators.
